The global ventilation fan market was valued at USD 2.15 billion in 2019. The market is projected to expand at a CAGR of 7.5% during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing awareness about the benefits of ventilation in the household segment.

Ventilation fans are used to circulate the air in houses and buildings. This ventilation is called as mechanical ventilation in which fans are used to flow the air. The basic purpose of an exhaust fan is to remove moisture out of the house. These fans help to eliminate unpleasant indoor odors. As a result, the ventilation system will help maintain the indoor air quality by diluting and eliminating the pollutants produced in the house.

Market Trends, Drivers, Restraints, and Opportunities
• Increasing demand of millennials for spacious and reasonable homes at prime locations is expected to expand the ventilation fan market.
• Decreasing the apartment sizes in major cities, in order to build affordable housing, is anticipated to raise the demand for ventilation fans.
• Small apartments have limited window setups that constrain proper air circulation. This factor boosts the ventilation fan market.
• Use of ventilation fans can decrease the frequency of respiratory diseases, as it helps to maintain perfect air and temperature quality in the house.
• Ventilation fans create a healthy indoor environment by removing unwanted odor and moisture from the room.
• Loud noise of the ventilation fans is expected to hamper the growth of the ventilation fan market.

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Scope of the Report
The report on the global ventilation fan market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights:

Axial ventilation fans market is speculated to account for a major market share during the forecast period
Based on products, the global ventilation fan market is bifurcated into Axial and Centrifugal ventilation fans. Axial ventilation fans are installed in industrial sectors, as they require less power and can move a large volume of air. Revenue from centrifugal ventilation fans is anticipated to witness a CAGR of 7.9% during the forecast period. Centrifugal ventilation fans are suitable for residential and commercial purposes, as they can be fitted in tubes and ducts, which lead to high airflow pressure. These ventilation fans are suitable for pollution filtration system and high durability.

The metal segment is expected to grow at a rapid pace during the forecast period.
On the basis of raw materials, the global ventilation fan market is segregated as plastic and metal. Metal ventilation fans contribute more than 70% revenue share to the global ventilation fans market. The toughness and strength of metallic blades makes the product capable of moving air, leading to good air circulation. These factors are estimated to increase the demand for metal ventilation fans.
The plastic ventilation fan segment is estimated to expand at a substantial CAGR during the forecast period. These products have low cost as compared to metal products. Plastic ventilation products are noise-free and lightweight. Additionally, they consume less electricity. These factors are anticipated to fuel the growth of the market during the forecast period.

The wall mounted segment is expected to hold more than 60% share of the total market revenue
In terms of deployments, the global ventilation fan market is fragmented as wall mounted and ceiling mounted. The wall mounted segment is anticipated to expand at a robust CAGR during the forecast period. These products are used in heavy duty air circulation. Wall mounted ventilation fans do not need hardwiring, which leads to easy installation. Houses which are not pre-designed to accommodate a ventilation fan, are installed with wall mounted fans. The ceiling mounted ventilation fan segment is projected to expand at a rapid pace during the forecast period. Nowadays, newly built houses are pre-designed to accommodate ceiling mounted fans, which is estimated to drive the segment growth.

The industrial segment is expected to expand at a robust CAGR during the forecast period
On the basis of applications, the global ventilation fan market is categorized as industrial, commercial, and residential. The industrial segment contributes more than 45% share to the ventilation fan market in the projected years. These products are used to disinfect and remove contaminated and warm air. In the industrial segment, these ventilation fans are required in dip tank, polishing and grinding, spray painting, and welding areas. Ventilation fans are majorly used in industrial segment, due to strict government policies and regulations for maintaining employee health.

North America was estimated to be the largest market for ventilation fans in 2020
Based on regions, the global ventilation fan market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is estimated to grow at a rapid pace during the forecast period. The growth of the market in the region is attributed to consumers mostly relying on energy-efficiency, comfort, and quality. As a result, consumers depend on ventilation fans for energy-efficient and airtight homes.

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